China’s yuan tumbled against a rising dollar in early deals on Wednesday, with its offshore trades dropping to a record low, pressured by expectations for more Federal Reserve rate hikes.
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China’s yuan sinks to record low against the dollar
China’s yuan has tumbled to a record low against the US dollar in offshore trading, joining a host of currencies experiencing sharp declines against the greenback. The offshore yuan, which is traded …
China Construction Bank to Invest CNY6 Bln to Set Up Consumer Finance Unit
By Clarence Leong China Construction Bank Corp. said it plans to invest 6 billion yuan ($835.9 million) to set up a consumer finance unit, as the …
China has great growth potential despite difficulties, says expert
SHANGHAI: China still has huge economic growth potential in the coming years despite short-term disruptions from the Covid-19 pandemic, says Takehiko Nakao, former president of the Asian Development …
China’s Central Bank And Monetary Policy’s Role In Its Economy
Among other central banks, China’s has a relatively high degree of freedom. With the Fed raising rates, China’s currency will likely continue losing value against the U.S. dollar.
China’s crises threaten Xi Jinping’s legacy
China’s property sector is in freefall and Covid lockdowns are throttling growth as bad loans pile up at the banks. As president Xi Jinping prepares for an unprecedented third term, a deluge of crises …
BEYOND Expo | Financial services to see fundamental disruptions, says Charles Li
Charles Li, former Chief Executive of the Hong Kong Exchanges and founder of Micro Connect, spoke at the BEYOND Expo 2022 about how he sees a wave of disruption on the horizon for traditional …
China’s large amphibious aircraft gains major progress
China’s independently-developed AG600 large amphibious aircraft has gained significant progress by completing critical flight tests and getting the first batch of purchase agreements, the developer …
Indebted to China, flood-ravaged Pakistan’s finance minister quits while trying to secure bailout terms
Miftah Ismail’s sudden resignation on Sunday came after Pakistan received assurances of financial help from the IMF and World Bank to prevent its economy from sinking.
Russia plans to use digital rouble in settlements with China, says lawmaker
After launching a digital rouble early next year, Russia plans to use the currency in mutual settlements with China as it seeks to reduce Washington’s global financial hegemony, a senior Russian …
Global financial companies reassess business risks in China after escalation over Taiwan
Global financial companies, still suffering multibillion-dollar losses in Russia, are now reassessing the risks of doing business in Greater China after escalating tensions over Taiwan, Bloomberg …
World Bank slashes economic outlook for Asia over China slowdown
The region’s economies are expected to grow 3.2 percent in 2022, down from a 5 percent forecast in April, as China’s lockdowns continue to disrupt factories and dampen spending, the Washington-based …
China regulators ask funds to stabilise markets before Communist Party Congress – sources
China’s securities regulators recently told some fund managers and brokers to avoid massive equity sales ahead of next month’s Communist Party Congress, in an effort to avoid big market fluctuations, …